MACC arrests former CEO, CFO over alleged abuse of power in RM370m plantation deal
The Malaysian Anti-Corruption Commission (MACC) has arrested a former CEO and CFO of a statutory body-owned company over alleged power abuse in a RM370 million plantation deal. The arrests follow findings from a Royal Commission of Inquiry report regarding Tabung Haji.
Why it matters
This reflects ongoing efforts in Malaysia to address systemic corruption within government-linked entities and statutory bodies.
KUALA LUMPUR, Aug 5 — The Malaysian Anti-Corruption Commission (MACC) has arrested the former chief executive officer (CEO) and former chief financial officer (CFO) of a company owned by a statutory body on suspicion of abusing their power in the acquisition of shares in two plantation companies worth RM370 million.
A source said the two suspects, aged 68 and 60, were arrested at 6.30 pm yesterday when they turned up to give their statements at the MACC headquarters in Putrajaya.
“However, both were subsequently released due to health reasons and will return to the MACC headquarters at 10 am today to continue giving their statements,” the source said.
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